Qingdao Hengshun Zhongsheng Group Co., Ltd. (SZSE:300208) signed an agreement to acquire 18% stake in Qingdao Urban and Rural Construction Finance Leasing Co., Ltd. from Vasari Investment Holdings Limited and Qingdao City Construction Investment Group Co.,Ltd on July 7, 2016. Qingdao Hengshun Zhongsheng Group Co., Ltd. plans to use cash to acquire 11.549% stake in Qingdao Urban and Rural Construction Finance Leasing Co., Ltd. from Vasari Investment Holdings Limited. During the year ended December 31, 2015, Qingdao Urban and Rural Construction Finance Leasing Co., Ltd. had revenues of CNY 212.14 million, net profit of CNY 96.73 million, total assets of CNY 3.04 billion, and owner’s equity of CNY 1.67 billion. Board of Directors of Qingdao Hengshun Zhongsheng Group Co., Ltd. approved the transaction on July 7, 2016. Qingdao Hengshun Zhongsheng Group Co., Ltd. (SZSE:300208) cancelled the acquisition of 18% stake in Qingdao Urban and Rural Construction Finance Leasing Co., Ltd. from Vasari Investment Holdings Limited and Qingdao City Construction Investment Group Co.,Ltd on July 7, 2017.